An avid hunter, independent trader, and financial analyst—dedicated to living life on my own terms. Passionate about mastering markets, exploring the great outd
🔥Tracking the expected path of the digital currency #ENAUSD 🇺🇸 on the 1-hour timeframe.🔥
Is the correction still ongoing? 🤔
The current price trend is still corrective, as indicated by the corrective movements of the downward waves. The price may experience a recovery 📈 through an upward corrective wave, potentially extending to the percentages shown, forming wave B of a flat pattern, before seeing another decline through wave C within the corrective wave (2)/(B).
It is possible that this corrective outlook 〽️ could extend to the first areas of support and reflection, or even reach the second area as shown in the chart. 👌
✨ The outlook remains bearish as long as the price trades within a three-wave pattern, regardless of the patterns these movements take. 👌🏻 A breakout of a key level through driving waves, and maintaining a lack of lower lows than those preceding it, would give the green light to this positive scenario through wave (3)/(C), and allow us to see new highs in the price path.
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#elliottwave #tradingview #technicalanalysis #swingtrading #waveanalysis #BTCUSD #cryptocurrencies #btctrading #forexdubai #forexeurope #forexuk #ETHUSD #tradingstrategies #priceactiontrader #ethereumtrading #ethereuminvestment #ethereumprice #bitcoinsignals #priceactiontrading #forexmalaysia #forexespanol #forexfrance #tradingacademy #forexaustralia #bitcointrading #Dogecoin #ENAUSDT
I've had so many people ask today ....."Is it safe to Buy #Gold and #Silver yet"..... I thought I would do a free chart!
Of course, we don't give financial advice and you must do your own due diligence.
You can see below where our Buy Order Zone was for Gold (double green horizontal lines).
Our Silver chart was done on the same basis:
$54.21-$56.32 Buy Zone.
NB: These Gold and Silver Zones are NOT LREPs (Low Risk Entry Points - until they get out of the IchClouds),
circa $4,353 Gold and $72.50 Silver.
https://t.co/robyniAtuH
Pay attention to who's buying gold - and who's selling it.
Large speculators just made a major jump in bullish positioning, an unusual move for a group that typically follows the trend.
Meanwhile, commercial traders - the people closest to the physical gold market - have built one of their largest net-short positions in 16 years.
That's a signal worth watching.
See where Elliott waves point gold next: https://t.co/h9IcAZ9km7
Gold Alert
GLD Volatility Index (GVZ) is sitting right at the 200 Simple Moving Average (purple). Similar to SLV Volatility Index.
However, GVZ has a history over the last 2 years of pulling back to the 200 SMA where gold has consolidated before moving higher. Let 's see if this plays out.
See chart below.
Back in April 2022, I showed our members what I thought about Rolls Royce. It was trading at less that £1. It's up over 1300% since then, having smashed through the top of this chart to over 1300p (£13)...
Wave 3 is where the real moves happen.
Before MicroStrategy $MSTR fell 65%, Elliott Waves showed the setup forming.
Once Wave 2 completed, the probability of a powerful Wave 3 decline increased dramatically.
Understanding the wave structure can help you anticipate trends - rather than react to it.
Get insights, forecasts and investing education - free! https://t.co/tDi0kOPuqc
#XAUUSD 🥇
In our last update, we showed you the Wave (4) rejection right at the 0.618 Fib on the 4H chart. Now, let's zoom in and look closer at the 1-hour timeframe.
As you can see, the moment #XAUUSD corrected first minor correction perfectly, the bears took absolute control. The momentum is shifting exactly as planned.
Planning is everything in trading; With proper planning, you will always be one step ahead.
WHY ELLIOTT WAVE WORKS?
Since the markets are taking a breather, let’s sharpen our edge. Why do we rely so heavily on the Elliott Wave Principle?
Because it is the only system that maps human psychology.
🌊 Wave 1: The stealth phase. Smart money enters quietly against the prevailing trend. The public and mainstream media are still overwhelmingly bearish, dismissing the move as a temporary fakeout.
🌊 Wave 2: The final test. A sharp pullback occurs, convincing the retail crowd that the old trend is resuming. Weak hands panic sell, while the smart money quietly accumulates at a heavy discount.
🏄♂️ Wave 3: The realization phase. The new trend becomes obvious, and the crowd rushes in, creating massive, violent momentum. (This is where we make our biggest profits).
🌊 Wave 4: The confusion phase. Profit-taking begins, creating messy, overlapping, and complex corrections designed to shake out impatient traders.
🏄♂️ Wave 5: The exhaustion phase. The last of the retail buyers enter out of FOMO, right before the smart money exits and the macro trend reverses.
Modern indicators lag behind the price. Elliott Wave tells you exactly where you are in the psychological cycle before the next move happens.
Never trade blindly again. Understand the structure and master the waves with EWS Premium! 💎
$XAUUSD
Gold- is in consolidation still. The reversal zone is a bit higher, but move out of a triangle, or possibly a diagonal in C suggests limited strength. Former wave four and TL is near $4700.
#xauusd#Elliottwave
Log versus Linear.
I took some time to create this charting lesson, so it can be referenced later on as to why you should use log scale.
It adapts to the accelerations and decelerations in price, showing you the more realistic & useful road map.
#trading #charting #spx
Only this concept... by starting to focus only on horizontal patterns and setups can save you at least 2 years of back and forth on charting and money on trading failed diagonal breakouts.
US Dollar Index: Possible ABC Pattern.
Intended for experienced and professional traders only. Do not put your money at risk and avoid trading otherwise.
https://t.co/Nu7gLHDd4L
#DXY